Yorkshire firm safeguards jobs with acquisition of historic steel specialist
A North Yorkshire firm has completed its acquisition of a West Midlands-based steel specialist as part of its ongoing expansion.
All Steels Trading Ltd, based in Thirsk, has completed its acquisition of Bromford Iron & Steel in West Bromwich from the OSSL Group.
Established in 2006 by current managing director Laurence McDougall, All Steels Trading imports a range of both long and flat rolled products, warehousing and processing them in the UK before their onward sale.
All Steels Trading’s acquisition of Bromford Iron & Steel, which has a history spanning 200 years, will bolster the ongoing expansion of the Yorkshire firm, as well as safeguarding the 38 jobs at Bromford’s site in Oldbury.
All Steels Trading managing director Laurence McDougall explained: “The acquisition of Bromford Iron & Steel offers excellent synergy with our other UK steel related businesses, but especially with our Wolverhampton-based Special Steel Sections rolling mill.
“The acquisition also confirms our commitment to supporting and investing in traditional British industries, and safeguarding a significant number of UK jobs.
“We believe British companies in this industry sector are more than capable of not just supporting domestic steel requirements but successfully competing on the world stage – and the support of All Steels Trading and its group of UK steel manufacturing companies will no doubt certainly help them to do just that.”
The deal was supported by a number of Yorkshire advisers including Clarion in Leeds which provided legal support to All Steels Trading; Martin Holden of Saffery Champness in Harrogate which provided taxation advice; and HSBC’s corporate team in Leeds for assisting with banking and financial advice.
Jonathan Simms, partner at Clarion, added: “It’s great to see a Yorkshire business continuing to expand and succeed on the world stage, particularly in such a competitive sector.
“This acquisition not only secures the jobs and business at Bromford, but will also help All Steels Trading to continue its growth strategy.”
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